PGGM Investments Buys 599 Shares of NetApp, Inc. (NASDAQ:NTAP)

PGGM Investments lifted its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,607 shares of the data storage provider’s stock after acquiring an additional 599 shares during the quarter. PGGM Investments’ holdings in NetApp were worth $5,167,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in shares of NetApp by 0.5% during the 4th quarter. Russell Investments Group Ltd. now owns 328,437 shares of the data storage provider’s stock worth $28,957,000 after purchasing an additional 1,625 shares during the last quarter. Truist Financial Corp lifted its position in shares of NetApp by 3.9% during the 4th quarter. Truist Financial Corp now owns 24,527 shares of the data storage provider’s stock worth $2,162,000 after purchasing an additional 910 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in shares of NetApp by 2.2% during the 4th quarter. Bahl & Gaynor Inc. now owns 252,863 shares of the data storage provider’s stock worth $22,292,000 after purchasing an additional 5,405 shares during the last quarter. Trust Asset Management LLC acquired a new position in shares of NetApp during the 4th quarter worth about $223,000. Finally, Stevens Capital Management LP lifted its position in shares of NetApp by 32.0% during the 4th quarter. Stevens Capital Management LP now owns 18,466 shares of the data storage provider’s stock worth $1,628,000 after purchasing an additional 4,480 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Up 0.4 %

Shares of NASDAQ NTAP opened at $101.33 on Monday. The firm has a market capitalization of $20.91 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.28. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 2.00. NetApp, Inc. has a 1 year low of $61.54 and a 1 year high of $112.48. The firm’s 50-day moving average is $100.21 and its 200-day moving average is $89.45.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 29th. The data storage provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.25. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.59 billion. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS. Equities analysts expect that NetApp, Inc. will post 5.16 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Friday, April 5th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, April 4th. NetApp’s payout ratio is 45.45%.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the transaction, the executive vice president now owns 9,601 shares of the company’s stock, valued at approximately $989,095.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Elizabeth M. O’callahan sold 871 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the completion of the transaction, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at $989,095.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $101.44, for a total transaction of $862,240.00. Following the transaction, the chief executive officer now directly owns 261,202 shares of the company’s stock, valued at $26,496,330.88. The disclosure for this sale can be found here. Insiders have sold 40,371 shares of company stock valued at $4,139,505 in the last 90 days. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NTAP. Wedbush boosted their price objective on NetApp from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. UBS Group increased their price objective on shares of NetApp from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Argus upgraded shares of NetApp from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Monday, March 4th. TD Cowen increased their price objective on shares of NetApp from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Evercore ISI increased their price objective on shares of NetApp from $95.00 to $105.00 and gave the company an “in-line” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, NetApp has a consensus rating of “Hold” and a consensus target price of $100.60.

NetApp Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.